Overview of Accounting & Bookkeeping
Accounting & Bookkeeping is not just about recording transactions—it’s about control, compliance, and clarity. At FastTrack FinTax, we transform your day-to-day financial data into accurate records, compliant reports, and actionable insights, ensuring your business stays audit-ready, tax-efficient, and stress-free—every single day.
Who is Liable for Accounting & Bookkeeping?
Is Your Business Legally Accountable? Let’s Find Out, If you are:
- A Proprietor, Partnership Firm, LLP, or Company
- Registered under GST
- Required to file Income Tax Returns
- Applying for loans, funding, or tenders
You are legally required to maintain proper books of accounts under the Income Tax Act, Companies Act, and GST Laws.
Why Accounting & Bookkeeping is Required?
Because Compliance Is Not Optional—It’s Essential
Accounting & Bookkeeping is the backbone of:
- Statutory compliance
- Accurate tax filings
- GST returns & reconciliations
- Financial transparency
- Business growth & decision-making
Without proper bookkeeping, businesses risk penalties, notices, cash flow issues, and loss of credibility.
Ready to Simplify Your Accounting?
Let professionals handle your books while you focus on growing your business.
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List of Important Accounting & Bookkeeping
What Exactly Do We Maintain for You? We professionally manage:
- Sales & Purchase Registers
- Expense & Income Records
- Bank Reconciliation Statements
- GST Input & Output Tracking
- Debtors & Creditors Ledgers
- Trial Balance
- Profit & Loss Account
- Balance Sheet
- Cash Flow Statements
s per Indian Accounting Standards.
Details Required for Accounting & Bookkeeping
Simple Inputs. Powerful Compliance. We only need:
- Sales invoices & purchase bills
- Bank statements
- Expense vouchers
- GST returns (if applicable)
- Payroll details
- Previous financial data
No complicated formats. No repeated follow-ups.
Consequences of Non-Accounting & Bookkeeping
Ignoring Books Can Cost You More Than You Think, Non-maintenance can lead to:
- Heavy penalties & interest
- Income Tax & GST notices
- Rejection of GST credits
- Audit complications
- Difficulty in raising funds
- Loss of business credibility
Prevention is always cheaper than correction.
What is the Process of Accounting & Bookkeeping?
Our Streamlined, Stress-Free Process
- Data collection (monthly/quarterly)
- Verification & classification
- Accounting entry & reconciliation
- Compliance review
- Financial reporting
- Ongoing advisory support
Our Services in Accounting & Bookkeeping
More Than Bookkeeping—Complete Financial Support, We offer:
- Outsourced Accounting Services
- GST Accounting & Reconciliation
- Payroll Accounting
- MIS & Financial Reporting
- Compliance Support
- Year-End Finalization
- Audit & Tax Filing Assistance
All under one expert roof.
Reasons to Trust FastTrack FinTax for Accounting & Bookkeeping
Why 500+ Businesses Trust Us
- Experienced CA & Legal Professionals
- Industry-specific accounting solutions
- Strict compliance with Indian laws
- Affordable & transparent pricing
- Data confidentiality & security
- Quick turnaround & real-time support
- Proactive compliance alerts
We don’t just maintain books—we protect your business.
Conclusions
Accounting That Empowers Growth
Accurate Accounting & Bookkeeping is not a burden—it’s a business advantage. With FastTrack FinTax, you gain peace of mind, legal compliance, financial clarity, and room to grow—while we handle the numbers.
Frequently Asked Questions
Yes. Even small businesses must maintain books if they exceed prescribed limits or are GST-registered.
Absolutely. Outsourcing saves cost, time, and ensures compliance.
Ideally on a monthly basis for smooth compliance and decision-making.
Yes, we manage complete GST accounting & reconciliation.
100%. We follow strict confidentiality and data protection protocols.